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Masters or MBA course
Sanjidur Rahman Sanjidur Rahman Member Join date: Apr, 2012 Posts: 3 Points: 0
Hello, my father didn't have any supporting documents. So that I am taking a loan around $ 35000 from a Bank. Is it enough or I have to show my father income source, Tin certificate, tax paper etc? Thank you.
  • June 04, 2012
  • Preferred qualification: Postgraduate | Preferred study destination: United States

Replies (1)

Ajay Sathyan Sathyan profile image Ajay Sathyan Sathyan Expert Join date: Feb, 2012 Posts: 414 Points: 6050 Trusted Advisor

Hi, banks have the following security/collateral security requirements for granting loans to students. However, the requirements differ from bank to bank.
Upto Rs. 4 Lakhs - No Security is required.
Above Rs. 4 Lakhs upto Rs. 7.50 Lakhs Suitable Third Party Guarantee is required.  
Above Rs. 7.50 Lakhs and upto Rs. 20 Lakhs - 100% collateral in any of the form of Immovable property / NSC / Units of UTI / LIC policy / RBI Bonds or any transferable Government securities.

Hope this information will be helpful.

Ajay Sathyan Sathyan | Uniguru

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